Shocking Amount Of Wealth Is Going To Be Destroyed

On the heels of a wild trading week which saw stocks plunge, today a 42-year market veteran warned King World News that decades of accumulated wealth are going to be destroyed. Below is the powerful interview with Egon von Greyerz, who is founder of Matterhorn Asset Management out of Switzerland.

Eric King: “Egon, when you look around the world at the chaos that’s taking place in emerging markets, can you talk about how you expect this to spread and what the result of that will be?”

Greyerz: “Well, this is so serious, Eric, because you are not talking about one market — you are talking about virtually all emerging market countries. And of course they have debts that they can never repay. The world is now worrying that there will be even less liquidity around because the US is now cutting down on the money printing….